Word: texaco
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WASHINGTON--President Carter sent telegrams to 27 oil companies Saturday, asking them to follow Texaco's lead on home heating oil prices, credit and emergency supply...
...Texaco announced Friday it has no immediate plans to increase its heating oil prices. The corporation is also making credit terms more favorable to wholesalers and some retail customers...
Already more than 2,000 energy-related companies have set up shop in the city. They range from one-man operations selling drilling-survey data to such giant conglomerates as Gulf, Texaco and Standard Oil Co. of California. Newcomers have swelled the population of the metropolitan area from 1.2 million in 1970 to 1.6 million today-including 4,000 geologists. One of the nation's fastest-growing cities, Denver has begun to rival Houston for the title of "Energy Capital, U.S.A...
...companies last week could hardly be expected to be greeted by cheers. All told, the industry had its best second quarter ever. Profits of the 23 biggest U.S. firms totaled $5.47 billion, a rise of 66% over the same period last year. Among the five large international companies, Texaco's earnings leaped by 132% to $365 million. Earnings of the others: Exxon, up 20% to $830 million; Mobil, up 38% to $404 million; Socal, up 61% to $412 million; and Gulf, up 65% to $291 million. These gains came on top of strong earnings in the first quarter...
...much of the rest of the U.S., many Southerners felt the shortage was contrived. Declared a Shell dealer in Sandy Springs, Ga.: "My customers think it's all a ripoff, that the major oil companies are holding back. So do I." Reported Texaco Dealer H.W. Wayne of Atlanta: "I hear a lot of cussin' from my customers but they're not cussin' me. They're cussin' the oil companies and the politicians...